Tradition has been involved in the natural gas OTC market since its inception and remains a market leader, today brokering the product via Stamford and Houston.
In the US, Tradition’s OTC brokers are actively involved in quoting one-month to ten-year structures for the following gas markets: Tennessee, NGPL, ANR, Texas Gas SL, Transco Z3, Columbia Gulf (onshore), Houston Ship Channel, Henry Hub, Tetco ELA, Tetco STX, Sonat, Trunkline LA, Chicago, Michcon, Panhandle, ANR OK, NGPL MidCon, NGPL TX/OK, Ventura, D-Marc, TCO, CNG/Dominion, Tetco M3, Transco Zone 6, Aeco CAD, Aeco USD, Rockies, San Juan, SoCal, Sumas, Malin, Permian, PGE CG, Dawn, Niagara, and Iroquois.
The brokers are organised into two specialised subgroups that provide for the efficient pricing and structuring of transactions. The first group covers physical markets, basis swaps and EFP (Exchange for Physical) transactions. The second group covers NYMEX-linked OTC swaps and options. These transactions are "lookalikes" to the NYMEX exchange, and are settled financially.
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